The Financial Document Control Procedure defines the methods and responsibilities for controlling documents used to provide work direction or set policy. It describes processes for document revision, approval and distribution. The procedure applies to all documents required by the Financial management system (FMS) including documents of internal and external origin. (12 pages, 2235 words)

Financial Document Control Responsibilities:

Document Control is responsible for controlling all FMS procedures and instructions, as well as all internal and external documents required by the FMS. Document Control is also responsible for ensuring that documents conform to applicable standards.

Department Managers are responsible for ensuring that the latest versions of relevant documents are available at the point(s) of use, that these documents are legible, and that they are understood and followed. They are also responsible for reviewing and responding to document change requests in a timely manner.

Top Management is responsible for reviewing requests and giving final approval to FMS-related procedures.

Financial Document Control Definitions:

Controlled Document – Document that provides information or direction for performance of work within the scope of the FMS. Characteristics of control include such things as revision number (letter), signatures indicating review and approval, and controlled distribution.

Document – Information and its supporting medium (paper, magnetic, electronic, optical, photograph, or a product sample.)

External Document – Document originating outside the Company (e.g., customer drawings, industry and/or international standards, suppliers’ equipment maintenance manuals, or references) that provides information or direction for performing activities within the scope of the FMS.

Finance Management System (FMS) – Ordered, well-documented system of policies, processes, and procedures, designed to assure compliance, conformity, and security; demonstrate a system of internal controls; and promote continual improvement of financial processes.

Form – Printed, typed, or electronic document with blank spaces for insertion of required or requested information (e.g., tax form, order form).

Financial Document Control Procedure Activities

Finance Procedure Format
Finance Work Instructions (WI)
Financial Forms
Financial Document Approval
Temporary Financial Document Changes
Financial Document Revisions
External Finance Documents
Finance Document Distribution

Financial Document Control Procedure References

Sarbanes-Oxley Act
Electronic Records; Electronic Signatures, Title 21, Code of Federal Regulations (21 CFR part 11)
Electronic Signatures in Global and National Commerce Act, Public Law #106-229
Electronic Signatures Regulations 2002, statutory Instrument 2002 No. 318 (UK)